NNPC want complete removal of Fuel Subsidies

                          

The Nigerian National Petroluem Cooperation NNPC want the Incoming administration to remove fuel subsidy which is considered to be unsustainable,

Mr Okon The group Coodinator and corporate strategy and planning of the NNPC said at the Society of Petroluem Engineers 2015 Olobibiri lecture series and Enegy forum in Abuja, that “Since government does not control crude oil price, its fluctuation often creates fiscal instability in the country, which negatively impact on Nigeria’s revenues.

“So, from the technical analysis made, it is obvious that subsidy is real, and it is something that should go, because it is not sustainable,” Mr. Okon said.

He added that susidy distort government revenue distribution as a result of round tipping  and unnecessary carryover expenditure every year in a way that is difficult to control and sustain by government